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Project Description |
| Project Name |
Search Technologies |
| Country |
Russia |
| Territorial Location |
Moscow |
| Sector/Industry |
Internet Services |
| Investment date |
August 2004 |
| Exit date |
March 2008 |
| Web |
Newsearch.ru |
| Fund |
Search Technologies |
| Status |
Exited |
| % Ownership at exit |
50%+1 |
Created jointly by Finam and Ashmanov&Partners in 2004, the Search Technologies Company focuses on development of internet search engines based on new software concepts. The major products of Search Technologies are Novoteka (www.novoteka.ru) and Flexum.ru (www.flexum.ru). Novoteka is a sophisticated news search engine; Flexum combines the newest internet search solutions with Web 2.0 best practices.
General search engines were previously enough for everyone, but currently the trend is shifting to more complicated queries, structuring results and developing personalized search engines. Thus, Search Technologies Company is on the cutting edge of search engine development, creating tools for developing personal search engines in any subject.
In March 2008, Finam was approached with a proposition to sell its stake in the company. As a result of the deal, Finam IT fund exited Search Technologies with about 50% upside.
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